Daily GK Update- 15th Mar, 2022

 

NATIONAL UPDATES:

 

1. India’s first medical city ‘Indrayani Medicity’ to set up in Maharashtra: The state government of Maharashtra has announced to set up the country’s first medical city named as ‘Indrayani Medicity’ in Pune, to provide all kinds of specialised treatment under one roof. It will come up in 300-acre of land area in Khed taluka of Pune. The project is estimated to attract investment worth over Rs. 10,000 crore. Indrayani Medicity will have hospitals, centres for medical research, pharmaceutical manufacturing, wellness and physiotherapy, and will be the first-of-its-kind city in the country to have all the treatments available at one place.

Key points:

a)      The Medicity will have about 24 separate hospital buildings, each housing one department. The Medicity will not only benefit Pune but will also be useful for people from neighbouring districts who come to the city for better treatment.

b)      There will be medical education and research institutes, and treatment will be provided at affordable rates to citizens.

c)       The proposed Medicity will have separate departments for trauma critical, heart disease, kidney, brain disease, dentistry, paediatrics, ophthalmology, endocrinology, gastroenterology, urology, haematology, organ transplantation, gynaecology, cardiology and psychiatry and separate super-speciality hospitals will be set up for all departments such as cancer, AYUSH etc.

d)      The Medicity will be set up by the Pune Metropolitan Region Development Authority (PMRDA). The entire facility is likely to have over 10,000 to 15,000 beds.

 

2. BIS tie-up with IIT Roorkee for activities on standardization: The Bureau of Indian Standards (BIS) and IIT Roorkee signed a Memorandum of Understanding (MoU) for the establishment of a ‘BIS Standardization Chair Professor’ at IIT Roorkee. This would be the first time BIS created a Standardization Chair in an Institute for activities related to standardisation and conformity assessment. It will aid in the establishment of standards on crucial areas such as IIT’s BlockChain applications for e-governance.

Key Points:

a)      The Bureau of Indian Standards (BIS) is proud to announce its collaboration with the illustrious IIT Kanpur in the development of standards.

b)      It will aid in the establishment of standards on crucial areas such as IIT’s BlockChain applications for e-governance.

c)       The MoU will help the country’s research, development, teaching, and training in the field of standardisation and conformity assessment, with a focus on civil, electrical, mechanical, chemical, and earthquake engineering, as well as the development and management of water resources and renewable energy projects, infrastructure development, medical biotechnology and nanotechnology, biotechnology, biomaterials, and other fields.

d)      This will also assist in sensitising students to the ways in which standards can stimulate and facilitate innovation, as well as training students to be more equipped for future professional difficulties.

Note: Bureau of Indian Standards Director-General: Pramod Kumar Tiwari; Bureau of Indian Standards Founded: 23 December 1986; Bureau of Indian Standards Headquarters: Manak Bhawan, Old Delhi.

 

3. Prabha Narasimhan named as CEO of Colgate-Palmolive India: Prabha Narasimhan has been appointed as the CEO and MD of Colgate-Palmolive (India) Limited. She succeeded Ram Raghavan, who has been promoted to the role of President, Enterprise Oral Care, at Colgate Palmolive Company. Prior to this, she was working as executive director of Hindustan Unilever (HUL). Colgate-Palmolive (India) provides oral care products under the ‘Colgate’ brand. It also provides personal care products under the ‘Palmolive’ brand name.

About the Colgate-Palmolive (India): Colgate-Palmolive (India) provides oral care products under the ‘Colgate’ brand. It also provides personal care products under the ‘Palmolive’ brand name. The company reported 2% rise in net profit to Rs 252 crore on a 4% increase in sales to Rs 1,271 crore in Q3 FY22 over Q3 FY21. Shares of Colgate-Palmolive (India) were almost flat at Rs 1496 on the BSE.

 

4. Labour Minister Bhupendra Yadav unveiled the book titled “Role of Labour in India’s Development”: Minister of Labour and Employment and MoEFCC, Bhupender Yadav has launched a book titled “Role of Labour in India’s Development”. V V Giri National Labour Institute has published the book. The publishing of the book is part of the ‘Iconic Week’ celebrations of the ‘Azadi Ka Amrit Mahotsav’.

About the book: ‘Role of Labour in India’s Development’ book has 12 articles outlining the contribution of labour in the development journey of India. These articles are written by experts in this field and the book is published by V V Giri National Labour Institute. V V Giri National Labour Institute is an autonomous body of the Ministry of Labour and Employment. It was established in 1974 as a premier institute of Labour research, training and education. Dr H. Srinivas is the current Director General of the institution.

 

INTERNATIONAL UPDATES:

 

1. V-Dem’s Democracy Report 2022: India ranked 93rd: The latest edition of Democracy Report was released recently by the V-Dem Institute at Sweden’s University of Gothenburg. The study was titled ‘Democracy Report 2022: Autocratisation Changing Nature?’. The report classifies countries into four regime types based on their score in the Liberal Democratic Index (LDI): Liberal Democracy, Electoral Democracy, Electoral Autocracy, and Closed Autocracy.

Top 5 LDI Countries: (1) Sweden; (2) Denmark; (3) Norway; (4) Costa Rica; (5) New Zealand

India’s performance:

a)      It classifies India as an electoral autocracy ranking it 93rd on the LDI, out of 179 countries.

b)      India is one of the top ten ‘autocratisers’ in the world says the report.

c)       India is part of a broader global trend of an anti-plural political party driving a country’s Autocratisation.

d)      Ranked 93rd in the LDI, India figures in the “bottom 50%” of countries.

e)      It has slipped further down in the Electoral Democracy Index, to 100, and even lower in the Deliberative Component Index, at 102.

f)        In South Asia, India is ranked below Sri Lanka (88), Nepal (71), and Bhutan (65) and above Pakistan (117) in the LDI.

 

2. World Consumer Rights Day: 15th March: World Consumer Rights Day is celebrated on March 15 every year. The day marks an opportunity to urge that all consumers’ rights be recognised and safeguarded, as well as to protest market abuses and social injustices that jeopardise those rights. The day highlights the power of consumers and their rights for a fair, safe and sustainable marketplace for everyone. This year the International Consumer Rights Day will be celebrated on the theme of “Fair Digital Finance.” The Department of Consumer Affairs will commemorate this day with multiple events being held in New Delhi.

History of the day: World Consumer Rights Day is inspired by President John F Kennedy’s special message to the US Congress that was delivered on 15th March 1962. In this message he formally addressed the issue of consumer rights becoming the first world leader to do so. The consumer movement first marked that date in 1983 and now uses the day every year to mobilise action on important issues and campaigns.

 

3. UN declares March 15 as the International Day to Combat Islamophobia: The U.N. General Assembly approved a resolution to proclaim March 15 as the International Day to Combat Islamophobia every year, starting from 2022. The resolution, adopted by the 193-member UN General Assembly, was introduced by Pakistan’s ambassador Munir Akram on behalf of the Organisation of Islamic Cooperation (OIC), on March 15, 2022. It marks the day when a gunman entered two mosques in Christchurch, New Zealand, killing 51 worshippers and wounding 40 others in the terror attack.

The resolution, introduced by the Organisation of Islamic Cooperation (OIC), was co-sponsored by Afghanistan, Bangladesh, China, Egypt, Indonesia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Libya, Malaysia, Maldives, Mali, Pakistan, Qatar, Saudi Arabia, Turkey, Turkmenistan, Uganda, United Arab Emirates, Uzbekistan and Yemen.

The objective of the day: The main objective of International Day to Combat Islamophobia will be curtailing systematic hate speech and discrimination against Muslims; respect for religious symbols and practices; along with the elimination of all forms of intolerance and discrimination based on religion or belief.

 

OTHER UPDATES:

 

SPORTS

 

1. In Ahmedabad, PM inaugurates the 11th Khel Mahakumbh: The 11th edition of the Khel Mahakumbh was started at Sardar Patel Stadium in Ahmedabad by Prime Minister Narendra Modi. PM Modi claimed that he appointed Khel Mahakumbh as Gujarat’s Chief Minister in 2010. Khel Mahakumbh, which began in Gujarat in 2010 with 16 sports and 13 lakh participants, now includes 36 general sports and 26 para-sports. The 11th Khel Mahakumbh has received over 45 lakh registrations. Due to COVID-19, we were not able to organize Khel Mahakumbh. Started in 2010 with 16 sports & 13 lakh participants, Khel Mahakumbh increased to 36 general sports & 26 para-sports in 2019.”

Attendees:

Governor of Gujarat Acharya Devvrat

Chief Minister of the State Bhupendra Patel

Bharatiya Janata Party State President CR Patil

Minister of State for Sports in Gujarat Government Shri Harsh Sanghvi

Shri Hasmukh Bhai Patel

Shri Narhari Amin

Mayor of Ahmedabad Mr. Kirit Kumar Parmar ji

 

BANKING AND FINANCE

 

1. RBI directs Paytm Payments Bank Ltd to stop onboarding of new customers: Reserve Bank of India (RBI) has directed Paytm Payments Bank Ltd to stop the onboarding of new customers with immediate effect. The bank has also been directed to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system. The RBI took the decision in exercise of its powers under section 35A of the Banking Regulation Act, 1949.

Key points:

a)      RBI has advised Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system. Once the audit is over, RBI will review the reports of IT auditors and based on the reports grant or review its permission for onboarding of new customers.

b)      Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by RBI after reviewing the report of the IT auditors. This action is based on certain material supervisory concerns observed in the bank.

Note: Chairman of Paytm Payments Bank Ltd: Vijay Shekhar Sharma; MD and CEO of Paytm Payments Bank Ltd: Satish Kumar Gupta; Paytm Payments Bank Ltd Headquarters: Noida, Uttar Pradesh.

 

BUSINESS AND ECONOMY

 

1. Debasish Panda named as Chairman of IRDAI: Debasish Panda has been appointed as the chairman of the Insurance Regulatory and Development Authority of India (IRDAI). He is a former financial services secretary. The post of Chairman of IRDAI was lying vacant since May 2021 when Subhash Chandra Khuntia completed his term. Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, retired as financial services secretary in January this year after a two-year stint.

The Appointments Committee of the Cabinet has approved Panda’s appointment as chairperson of the insurance regulator initially for a period of three years from the assumption of charge. The appointment of IRDAI chairman comes nearly 9 months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year.

Note: IRDAI Founded: 1999; IRDAI Headquarters: Hyderabad.

 

AWARDS AND HONOURS

 

1. J&K Bank bagged National Award for SHG Bank Linkage 2022: Union Minister of Rural Development, Giriraj Singh honoured the Jammu and Kashmir Bank (J&K Bank) with the “National Award for Outstanding Performance for FY 2020-21” in recognition of its best performance in Self-Help Group Bank Linkage. Kirti Sharma, Zonal Head, Delhi, J & K Bank, accepted the award on the bank’s behalf from Union Minister Giriraj Singh.

The award was presented during the event organized as a part of International Women’s Day (8th March 2022) at Vigyan Bhavan, New Delhi, Delhi. In line with the Bank’s commitment to extend banking facilities and financial services into the under-banked areas of Jammu and Kashmir, J&K Bank has commissioned 4 Business Units (BUs) in the region.

 

 

 

 

 

 

 

 

 

 

 

 

 

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Daily GK Update- 14th Mar, 2022

 

NATIONAL UPDATES:

 

1. Tripura Govt announced “Mukhyamantri Chaa Srami Kalyan Prakalpa” scheme: Tripura Government has announced a special scheme ‘Mukhyamantri Chaa Srami Kalyan Prakalpa’ for tea workers. A special scheme, allotting Rs. 85 crores for its implementation, as a step towards bringing the 7000 tea garden workers of Tripura under the social security net. This special scheme would ensure housing, rations, and financial support to the tea garden workers by integrating the facilities that are entitled to them, by the state government and the central government. Key information:

a)      About 75% of the 7000 tea garden workers are women and they produce nearly 90 lakh kilograms of tea through 54 tea estates & 21 tea processing factories across the state. The tea production is mainly distributed in the North, Sepahijala, Unakoti, and West Tripura districts.

b)      The Union Home and Cooperation Minister, Amit Shah had recently inaugurated the year 2022 Women Empowerment Campaign and Chief Minister Shramik Kalyan Prakalp scheme for the women of Tripura on the occasion of International Women’s Day & has also laid the foundation stone for National Forensic Sciences University in Agartala, capital of Tripura.

Note: Tripura Capital: Agartala; Tripura Chief Minister: Biplab Kumar Deb; Tripura Governor: Satyadeo Narain Arya.

 

2. Jyotiraditya Scindia inaugurates first drone school at Gwalior in Madhya Pradesh: The Union Civil Aviation Minister Jyotiraditya Scindia and Madhya Pradesh Chief Minister Shivraj Singh Chouhan jointly inaugurated the first drone school in Gwalior, Madhya Pradesh. This drone school is one of the five Drone Schools planned to be opened in different cities of Madhya Pradesh. The other four cities are Bhopal, Indore, Jabalpur and Satna.

About the school: This drone school of Gwalior will not only pave the way for the youth of Madhya Pradesh to move forward by connecting them with technology, but it will also increase employment opportunities. This school will prove to be a milestone in the progress and progress of Madhya Pradesh along with Gwalior.

Note: Madhya Pradesh Capital: Bhopal; Madhya Pradesh Governor: Mangubhai C. Patel; Madhya Pradesh Chief Minister: Shivraj Singh Chouhan.

 

3. MSME IDEA HACKATHON 2022: Union Minister for MSME, Narayan Rane has announced the MSME Innovative Scheme (Incubation, Design, and IPR) as well as the MSME IDEA HACKATHON 2022. Shri Rane, speaking on the occasion, stated that MSMEs play an essential role in Atmanirbhar Bharat. He claims that these programmes will assist entrepreneurs in launching new businesses. Key Points:

a)      MSME Innovation” Scheme, according to the Minister of State for MSME Shri Bhanu Pratap Verma, will develop and foster latent innovation in the MSME sector.

b)      During the opening of the MSME Innovation Scheme, Shri B.B Swain, Secretary MSME, made the keynote address, stating that it will serve as a hub for innovation activities, facilitating and directing the development of ideas into viable business propositions that benefit society directly.

c)       MSME Innovative is a comprehensive approach that unifies, synergizes, and converges three sub-components and interventions to achieve a single goal.

d)      MSME Innovative is a novel idea for MSMEs that combines incubation, design intervention, and IPR protection in a single-mode approach to raise awareness about India’s innovation and drive MSMEs to become MSME Champions.

e)      This will serve as a focal point for innovation efforts, enabling and leading the transformation of ideas into viable business propositions that benefit society and can be successfully commercialised.

 

4. Justice AK Sikri named as Chairperson of Chardham project Committee: The Supreme Court of India has named Justice (retd) AK Sikri as Chairperson of the High Powered Committee (HPC), of the Chardham project. The previous Chairperson Professor Ravi Chopra had resigned from his post in February 2022, after being appointed as the chairperson of the HPC on August 8, 2019. A bench of Justices DY Chandrachud and Surya Kant accepted the resignation of Professor Ravi Chopra as chairperson of the committee after he wrote a letter in January wishing to relinquish his post.

 

5. A book titled “Soli Sorabjee: Life and Times” authored by Abhinav Chandrachud: A new biography, titled “Soli Sorabjee: Life and Times” was announced, during the occasion of the 92nd birth anniversary of Soli Sorabjee. It is authored by advocate and legal scholar Abhinav Chandrachud and will be released in April 2022. The book highlights the personal details of the life of Soli Sorabjee, his family background. He was the former Attorney General (AG) of India and served two times for the years 1989-90 and then from 1998- 2004.

 

INTERNATIONAL UPDATES:

 

1. Yoon Suk Yeol elected as new South Korean President: Yoon Suk-yeol has been declared as the winner of the 2022 South Korean presidential election to be elected as the new President of the country. He is scheduled to assume office as president on May 10, 2022, for a fixed term of five years. Yoon Suk-yeol will succeed incumbent President Moon Jae-in.

With more than 98 per cent of the ballots counted, Yoon had 48.6 per cent of the votes against his rival Lee Jae-Myung’s 47.8 per cent. Yoon is to take office in May and serve a single five-year term as leader of the world’s 10th-largest economy.

Note: South Korea Capital: Seoul; South Korea Currency: South Korean won.

 

2. International Day of Action for Rivers: 14th March: The International Day of Action for Rivers is celebrated every year on the 14th of March. The year 2022 marks the 25th anniversary of the International Day of Action for Rivers. The day aims to raise awareness about the value and importance of rivers as well as bring together people from across the world to discuss and spread awareness about conserving rivers, river management, pollution, and equitable access to clean and flowing water. The theme in 2022 is “The Importance of Rivers for Biodiversity”.

History: The International Day of Action For Rivers was adopted by the participants of the First International Meeting of People Affected by Dams, March 1997 in Curitiba Brazil. The main aim is to raise voices in unison against destructive water development projects, reclaim the health of watersheds, and demand the equitable and sustainable management of rivers.

 

3. International Day of Mathematics: 14th March: International Day of Mathematics (IDM) is observed globally on the 14th of March every year. It is also known as the Pi Day because the mathematical constant π (pi) can be rounded down to 3.14. It aims to educate people about the essential role of mathematics in science and technology, improve quality of life, empower women and girls, and contribute to sustainable development. This is a relatively new event that was created just a couple of years back. The theme for 2022 IDM is “Mathematics Unites!“.

History of the day: The proclamation of March 14 as the International Day of Mathematics was adopted in the 205th session of the UNESCO’s Executive Council. The day was then adopted in the 40th session of the General Conference of UNESCO in November 2019. Later in 2020, the world celebrated its First International Day of Mathematics on March 14, 2020.

 

OTHER UPDATES:

 

SPORTS

 

1. Famous Golfer Tiger Woods inducted into World Golf Hall of Fame: Famous Golfer, Tiger Woods was formally inducted into the World Golf Hall of Fame. The 46-year-old Woods entered the storied hall as part of the Class of 2022 along with retired PGA Tour commissioner Tim Finchem, U.S. Women’s Open champion Susie Maxwell Berning and Marion Hollins, a U.S. Women’s Amateur champion and golf course architect who was recognised posthumously.

During his career, Woods has broken many golfing records, establishing himself as arguably the greatest golfer of all time. He has won 15 majors, surpassed only by Jack Nicklaus’ 18, as well as a joint-record 82 wins on the PGA Tour.

 

BANKING AND FINANCE

 

1. NaBFID to be regulated as AIFI under RBI Act: Reserve Bank of India has announced that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised by it as an All India Financial Institution (AIFI) under the RBI Act, 1934. NaBFID will be regulated and supervised by RBI as an AIFI under Sections 45L and 45N of the Reserve Bank of India Act, 1934.

Presently RBI has four AIFIs under it namely EXIM Bank, NABARD, NHB and SIDBI. NaBFID will be the fifth AIFI under RBI. NaBFID has been set up as a Development Financial Institution (DFI) to support the development of long-term infrastructure financing in India.

Note: Chairman of NaBFID: KV Kamath.

 

2. Ashwani Bhatia (SBI MD) appointed as SEBI member: The cabinet has appointed Ashwani Bhatia, managing director (MD) of the State Bank of India (SBI), as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI). According to some sources, the Appointments Committee of the Cabinet (ACC) has also approved Ashwani Bhatia’s appointment as a whole-time member of SEBI for three years from the date of his assumption of the command.

 

BUSINESS AND ECONOMY

 

1. CRISIL Projected GDP growth forecast at 7.8% for 2022-23: Domestic rating agency CRISIL retained its real GDP growth forecast at 7.8% for the fiscal year 2023, as compared with the 8.5% projected in the Economic Survey. FM Nirmala Sitharaman’s Budget proposals focused on loosening the purse strings by boosting capital expenditure and going slow on fiscal consolidation are aimed in the right direction. The agency expects the nominal growth to come at 12-13%, higher than the 11.1% Budget Estimate, and the headline inflation to average 5.2%.

 

2. Star Health and Allied Insurance launched ‘Star Women Care Insurance Policy’: Star Health and Allied Insurance Company Limited, a health insurance company launched “Star Women Care Insurance Policy”. It is a woman-centric comprehensive health cover specially designed to protect the healthcare needs of women at every stage of their lives. The policy can be purchased through premiums that can be paid in quarterly or half-yearly instalments, and this policy can also be taken for 1 year, 2 year or 3-year terms.

The Star Women Care Insurance Policy is available as both an individual policy and a floater policy. Individual Sum– Insured only for females aged between 18 years and 75 years. Floater Sum Insured – Adult 18 years to 75 years with at least one female in the family along with the spouse and dependent children.

Note: Star Health and Allied Insurance Company Limited Establishment: 2006; Star Health and Allied Insurance Company Limited Headquarters: Chennai, Tamil Nadu; Star Health and Allied Insurance Company Limited Wholetime Director & CEO:  Jagannathan.

 

AWARDS AND HONOURS

 

1. Six Indian Airports named the ACI World’s ASQ Awards 2021: From India, six airports have found a place among the ‘Best Airport by Size and Region’, by the Airports Council International (ACI), in its Airport Service Quality (ASQ) survey for the year 2021. The airports have been adjudged among the Asia Pacific region in different categories based on annual passenger traffic. The ACI Airport Service Quality (ASQ) Awards takes into account 33 parameters related to passenger amenities to recognize airport excellence in customer experience.

The six Indian airports include:

Category – Over 40 million passengers per year

a)      Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai  (5th consecutive year)

b)      Indira Gandhi International Airport, New Delhi  (4th consecutive year)

Category – 15 to 25 million passengers per year

a)      Rajiv Gandhi International airport, Hyderabad

Category – 5 to 15 million passengers per year

a)      Cochin International Airport, Cochin

b)      Sardar Vallabhbhai Patel International Airport, Ahmedabad

Category – 2 to 5 million passengers per year

a)      Chandigarh Airport, Chandigarh

Note: Airports Council International Headquarters: Montreal, Canada; Airports Council International Founded: 1991.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Daily GK Update- 13th Feb, 2022

 

NATIONAL UPDATES:

 

1. Karnataka government launched ‘Women@Work’ programme: The government of Karnataka has launched ‘Women@Work’ program to provide five lakh jobs within 2026 to women with necessary employable skills. The program aims to focus on the efforts of corporate programs on attracting women workforce. It has been developed by Karnataka Digital Economy Mission (KDEM) in association with KTECH, Karnataka Skill Development Corporation. It will act as an enabler for women to actively participate and join the workforce through industry upskilling. All efforts are being made to provide 5,000 jobs for women as part of the Karnataka Digital Economy Mission and added that the government is keen to actualise this mission in the coming days.

Note: Karnataka Capital: Bengaluru; Karnataka Chief Minister: Basavaraj S Bommai; Karnataka Governor: Thawar Chand Gehlot.

 

2. Union Minister of Power launches Virtual Smart Grid Knowledge Center: As part of the Azadi ka Amrit Mahotsav Program, Union Minister for Power R.K. Singh launched the Virtual Smart Grid Knowledge Center (SGKC) and Innovation Park. Krishan Pal Gurjar, Minister of State for Power, was also in attendance.

Key Points:

a)      POWERGRID established the Smart Grid Knowledge Center (SGKC) to demonstrate and advance cutting-edge smart grid technologies.

b)      SGKC aspires to be one of the world’s top centres of excellence for smart grid technology innovation, entrepreneurship, and research, as well as building capacity in the power distribution industry.

c)       The Virtual SGKC, which was introduced today, allows for a digital footprint of the real SGKC, which was needed during the COVID-19 epidemic.

 

3. Haryana’s CM announced ‘Sushma Swaraj Award’ for women: Haryana Chief Minister, Manohar Lal Khattar, while presenting the state budget, has announced a ‘Sushma Swaraj Award’ for women for their significant achievements or contribution in different walks of life in the international and national spheres. The Sushma Swaraj Award will carry an award money of Rs 5 lakh along with a commendation.

About the Sushma Swaraj: Sushma Swaraj was a lawyer of the Supreme Court as well as an Indian politician. She was a senior member of the Bharatiya Janata Party, served as India’s Minister of External Affairs during the first Narendra Modi government (2014–2019). After Indira Gandhi, she was the second woman to occupy this position.

Note: Haryana Capital: Chandigarh; Haryana Governor: Bandaru Dattatreya; Haryana Chief Minister: Manohar Lal Khattar.

 

4. Skoch State of Governance ranking 2021: Andhra Pradesh gets first rank: Andhra Pradesh has retained its number one spot in the SKOCH State of Governance rankings for the second consecutive year. According to a release, the State retained the first rank for the second consecutive year. In 2020 too, Andhra Pradesh bagged top rank in governance. Andhra Pradesh was ranked at second position in 2018 and later it slipped to 4th position in 2019, according to Skoch.

Other state rankings: The second rank was bagged by West Bengal and Odisha was ranked 3, Gujarat was ranked 4 and Maharashtra was ranked 5. Neighbouring Telangana was ranked 6.

 

5. Sharad Pawar unveiled Ratnakar Shetty’s autobiography “On Board: My Years in BCCI”: A book titled “On Board: My Years in BCCI”, an autobiographical account of Ratnakar Shetty’s experiences as an administrator. The book was released by Sharad Pawar, the former president of the MCA, BCCI and International Cricket Council. Shetty, a Chemistry professor by profession, went on to be the BCCI’s first Chief Administrative Officer after serving the Mumbai Cricket Association in various capacities.

 

INTERNATIONAL UPDATES:

 

1. Hungary elects first-ever female president: The Hungarian parliament has elected Katalin Novak, a close ally of Prime Minister Viktor Orban, as the EU member’s first-ever female president. Novak, who most recently served as a minister for family policy, portrayed her election as a victory for women. She was elected to the mostly ceremonial role by 137 votes to 51 in the parliament dominated by Orban’s right-wing Fidesz party ahead of opposition challenger Peter Rona, an economist.

Novak will succeed Janos Ader, a co-founder of Orban’s governing right-wing Fidesz party who has held the job since 2012. She will take office after Ader’s term expires May 10.

Note: HungaryCapital: Budapest; Hungary Currency: Hungarian forint.

 

2. IMF board approves $1.4 billion emergency support for Ukraine: The International Monetary Fund (IMF) has approved $1.4 billion in emergency support for Ukraine to finance expenditures and shore up the balance of payments. Ukraine has turned to financing from allies and international institutions to support its economy after the Russian invasion began on February 24. The disbursement under the IMF’s Rapid Financing Instrument (RFI), equivalent to 50% of Ukraine’s quota in the IMF, will help fund urgent spending needs in the short term, while helping to catalyze financing from other partners.

Note: Ukraine Capital: Kyiv; Ukraine Currency: Ukrainian hryvnia; Ukraine President: Volodymyr Zelenskyy; Ukraine Prime minister: Denys Shmyhal.

 

3. World Rotaract Day: 13th March: World Rotaract Day is celebrated on the 13th of March every year to acknowledge the services provided by the rotaractors across the world. The theme of World Rotaract Day 2022 is “Rotary Making a Difference”. World Rotaract Week will be held from 11 March 2022 to 18 March 2022.

Rotaract: Rotaract means rotary in action. Rotary is an organization of business and professional people who unite worldwide to provide humanitarian service, encourage high ethical standards in all vocations and help build goodwill and peace in the world. World Rotaract Day is commemorated to honour the beginning of the first such club, Rotary International, in 1968 at North Carolina, USA. Now it has transformed into a major Rotary-sponsored organization with more than 9,539 clubs spread around the world.

 

OTHER UPDATES:

 

SPORTS

 

1. India finishes at the top in 2022 ISSF World Cup: India has taken first place in the medal standings at the ISSF World Cup 2022 in Cairo, organised by the International Shooting Sport Federation. By winning a total of seven medals, the Indian team took first place in the medals tally, with four gold, two silver, and one bronze. Norway took second place in the medals tally with six medals (three gold, one silver, and two bronze). France came in third place with three gold medals out of a total of twenty.

Key Points:

a)      On the final day of the ISSF World Cup 2022 in Cairo, Egypt, Indian shooters took home two medals.

b)      Rhythm Sangwan and Anish Bhanwala won the 25m rapid fire pistol mixed team gold medal match against Thailand 17-7 in the tournament’s final event.

c)       Earlier in the day, India’s Gurpreet Singh, Anish Bhanwala, and Bhavesh Shekhawat were defeated 7-17 by Germany in the gold medal match of the men’s 25m rapid fire pistol team competition.

d)      India won their third World Cup gold on Sunday, defeating Singapore 17-13 in the women’s 25m pistol team event final. In the gold medal match, Rahi Sarnobat, Esha Singh, and Rhythm Sangwan defeated the Singaporean trio of Xiu Hong, Shun Xie, and Ling Chiao Nicole Tan.

e)      Esha Singh had won the women’s 10m air pistol team event in addition to the silver she had earned in the women’s 10m air pistol individual event, making this her second gold and third medal of the World Cup.

f)        Saurabh Chaudhary won India’s first gold medal in Cairo last week. In the gold medal match of the Men’s 10m Air Pistol event, the 19-year-old Indian defeated Michael Schwald of Germany 16-6.

 

BANKING AND FINANCE

 

1. RBI extends Interest subsidy scheme for exporters: With the aim of expanding export shipments, the Reserve Bank of India extended the interest equalisation scheme for pre and post-shipment rupee loans for MSME exporters through March 2024. The ‘Interest Equalisation Scheme for pre and post-shipment Rupee Export Credit’ provides a subsidy to exporters. The scheme was first extended until the end of June last year, and then again until September 2021.

Important points:

a)      The interest equalisation rates under the plan have been revised to 2% and 3% for certain categories of MSME manufacturer exporters, according to the RBI.

b)      Scheme to equalise interest rates “The government has authorised the extension of the Interest Equalisation Scheme for Pre- and Post-Shipment Rupee Export Credit through March 31, 2024, or until further review, whichever comes first,” said the statement.

c)       The extension will take effect on October 1, 2021, and will end on March 31, 2024, according to a notification from the RBI. The scheme will not apply to telecom instruments or businesses that receive benefits under the government’s Production Linked Incentive (PLI) programme.

d)      The bank will be required to provide the prevailing interest rate, the interest subvention being provided, and the net rate being charged to each exporter when issuing approval to the exporter, according to the RBI, in order to ensure transparency and greater accountability in the scheme’s operation.

e)      It further stated that beginning April 1, 2022, banks will cut the interest rate charged to eligible exporters upfront in accordance with the standards, and that claims must be submitted in writing within 15 days after the end of the fiscal year.

 

2. Axis Bank launches hiring initiative named ‘Gig-a-Opportunities’: Axis Bank has launched a new initiative named ‘Gig-a-Opportunities’. The initiative aims to attract skilled talent that can work with the bank remotely, from anywhere in the country. This hiring model comprises two working patterns. One is the full-time permanent job and the second is based on the duration of a project and is temporary in nature. Axis Bank aims to employ 800-1000 people over the next under this initiative.

Note: MD and CEO of Axis Bank: Amitabh Chaudhry; Axis Bank Headquarters: Mumbai, Maharashtra; Axis Bank Founded: 1993, Ahmedabad.

 

BUSINESS AND ECONOMY

 

1. ToneTag launches VoiceSe UPI digital payments for feature phone users: ToneTag has partnered with NSDL Payments Bank and NPCI to launch its “VoiceSe UPI payments service” for feature phone users. This comes after the Reserve Bank of India has launched the UPI 123Pay facility that enables UPI payments for feature phone users. ToneTag is a sound-based proximity communication and payments service provider based in Bengaluru, Karnataka.

To access the “VoiceSe UPI payments service” feature phone users need to call on the IVRS number 6366 200 200.  Every user can only proceed with the financial transaction through UPI PIN. They do not require internet connectivity or a smartphone for making payments. This is an all-inclusive technology that fills the gap in the existing financial ecosystem and brings many benefits to the customers.

 

2. HDFC Mutual Fund Launches #LaxmiForLaxmi: HDFC Mutual Fund has launched a women-led financial empowerment initiative ‘LaxmiForLaxmi’ which will connect women investors to a woman financial expert near them through a unique missed call service. The female financial expert will guide and address the queries of the woman investor. Through this initiative, HDFC Mutual Fund aims to support women investors in their journey to become financially independent while making mutual fund investments accessible to them.

About the initiative: The initiative is based on the fact that it is easier for a person to understand a concept when it is taught by someone who comprehends them and is like-minded. This is a financial empowerment campaign for women through which the fund house aims to support women investors in becoming financially independent while making mutual fund investments more accessible to them.

Note: HDFC Bank Headquarters: Mumbai; HDFC Bank Founded: August 1994; HDFC Bank CEO: Sashidhar Jagdishan; HDFC Bank Chairman: Atanu Chakraborty; HDFC Bank Tagline: We understand your world.

 

DEFENCE

 

1. Australia’s AARC tie up with India’s CLAWS: From March 8 to March 10, 2022, Lt Gen Richard Burr, the Chief of the Australian Army, was in India for three days. The Australian Army Chief paid a visit to the Centre for Land Warfare Studies (CLAWS), an Indian Army think tank in New Delhi. Lt. Gen Richard Burr met with Vice Chief of Army Staff Lt Gen Manoj Pande, Chairman, Board of Governors, CLAWS, and Director CLAWS, Lt Gen Dr Ranbir Singh (Retd). CLAWS research efforts and outreach strategies were briefed to the visiting General. On the sidelines of the tour, a Memorandum of Understanding (MoU) was signed between the Australian Army Research Centre (AARC) and the Centre for Land Warfare Studies (CLAWS) to create academic cooperation and engagement.